- Jefferies upgrades Oceaneering International (OII) from Hold to Buy. Price target unchanged at $95.
- "We believe OII's share pullback reflects a fundamental misunderstanding of its Gulf of Mexico exposure and of subsea order trends; as such there is no change to our view of strong growth prospects in 2014+ EPS and medium-term FCF led by Products and Projects," analyst Brad Handler says, adding that "products orders in 2014 can also benefit from the strong subsea order year in 2013."
Jefferies upgrades Oceaneering to Buy
Dec 2 2013, 07:50 ET